Office of Research at LUMS Hosts Awareness Session on Intellectual Property
The Office of Research (OR), in collaboration with the Technology and Innovation Support Centre (TISC) at LUMS and the National Incubation Centre at LUMS (NICL), organised an event to highlight the importance of intellectual property (IP) within academic and research communities. Held on July 11, the event was organised in partnership with the Intellectual Property Organization (IPO) Pakistan.
Guest speaker, Mr. Farrukh Amil, Chairperson, IPO Pakistan, delivered a lecture titled, "Understanding the Role of Intellectual Property to Promote Innovation and Entrepreneurship." His conversation aimed to educate attendees about how IP can facilitate innovation and entrepreneurial endeavours.
During the event, Mr. Amil engaged with startups, discussing how they can leverage IP to gain a competitive edge, expand into new markets, grow their businesses, forge partnerships, and secure funding. This interaction provided valuable insights and guidance for aspiring entrepreneurs, emphasising the significance of intellectual property in driving their ventures forward.
Startups often underestimate the benefits of IP in their journey to success. By protecting their innovations through patents, trademarks, copyrights, and trade secrets, startups can safeguard their ideas, differentiate themselves from competitors, and attract potential investors and partners.
The event emphasised the importance of a proactive approach to IP. Startups should prioritise early-stage IP protection to secure their inventions, designs, or unique concepts, establishing a strong foundation for their business and mitigating the risk of infringement or misappropriation.
Mr. Amil also highlighted the role of intellectual property in fostering collaboration and knowledge-sharing within academic and research communities. IP rights not only protect inventors and creators but also incentivise them to disclose their innovations, leading to a broader dissemination of knowledge. Through strategic collaborations and partnerships, universities and research institutions can harness IP to drive innovation, create economic value, and contribute to societal development.
The event shed light on the significance of intellectual property in academic and research communities. By embracing IP rights, startups and academic institutions can drive their ventures forward, foster collaboration, and contribute to the growth of the knowledge economy.